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"Hacking Elon’s Twitter account and using it for a crypto scam rather than a stock-trading scam shows a complete lack of imagination" - Naval https://twitter.c
by amrrs 6y ago
"Hacking Elon’s Twitter account and using it for a crypto scam rather than a stock-trading scam shows a complete lack of imagination" - Naval
https://twitter.com/naval/status/1283507218294292481?s=19 https://twitter.com/naval/status/1283507218294292481?s=19
- maest 6y agoWho is Naval? Their website doesn't have an "about me" page.
- alextheparrot 6y agoFounded AngelList and made some good investments https://angel.co/p/naval https://angel.co/p/naval
- throw_m239339 6y agoI disagree, a stock-trading scam would be way easier to track than crypto.
- nemothekid 6y ago$20B of TSLA is being held short right now. How in the hell would the SEC discern you from any other Robinhood trader holding TSLA puts?
- fasteddie 6y agoI'd wager the list of folks who: -hold a meaningful enough short position for a potential attack to be worth, say $500k or more (not a rando robinhood trader with a $200 put) -are not an existing bank or long term day trader is already quite small, and could be quickly prioritized based on how anomalous the trade was, other flags (foreign national, software engineering babckground). I suspect the SEC could get to a workable list of 50 prime suspects reasonably easily.
- nemothekid 6y agoThere are people on /r/wallstreetbets who are blowing up 100k accounts on TSLA puts on Robinhood. On the front page of /r/wsb right now the 3rd highest post is someone who has lost 30k gambling on TSLA. Even betting 20k would have probably netted you more than what was gained via BTC and you would still be indistinguishable from RH day traders.
- propogandist 6y agothis is the first thought that popped into my mind when hearing about it. Why are you quoting tweets as a reply on HN?
- unfunco 6y agoAre we certain that Twitter's share price won't be affected?
- vsareto 6y agoI can't find the tweet now, but Tavis Ormandy once talked about companies share prices often rebounding after a breach, so he was buying stock in companies that got hacked. Equifax was an example, I think.
- this_user 6y agoIt already is around $1.4 from the close on heavy volume. It's pretty clear that they have a major problem.
- baxtr 6y agoThe popularity of Naval is something I fail to understand.
- borski 6y agoHe was an investor of ours, and among the most useful. There was rarely a founder/investor issue he hadn't run into, or knew someone who had. That sort of help is invaluable to founders, especially given his experience and everything he knows about both raising, and building a company. He's really solid.
- borroka 6y agoFortune cookies syndrome, it affects millions.
- codezero 6y agoWhat is that? I googled it and I didn't see anything, am I being stubborn?
- LegitShady 6y agoBasically when someone says something vague enough to apply to many situations and people who hear it think he's telling the future. "You will need clarity to deal with upcoming personal conflicts." You get in a argument with your friend/spouse/partner/coworker, the fortune cookie sounds prophetic
- nitrogen 6y agoJust guessing: fortune cookies are bite-sized tautologies, but people still eat them.
- andy_ppp 6y agoI guess he’s saying dishing out clever aphorisms is similarly like the sayings in fortune cookies.
- miguelmota 6y ago
- miguelmota 6y agoNaval is wrong because fiat will be harder to launder while bitcoin is borderless censorship-resistant money.
- quonn 6y agoIn a stock scam it is already laundered, because there is no direct flow.
- valenciarose 6y agoMarket surveillance is much better than most people realize. The accounts making money on a scam like this would be identified, filtered for anomalous activity, and the people at the other end investigated.
- quonn 6y agoThey might be, but the money nevertheless is pretty clean (has an acceptable origin). The way around this is to leave no traces of the hack or to cash in using another person.
- fouc 6y agoI'd imagine picking a highly volatile stock with a lot of wallstreetbet bros in it, like TSLA, would serve to helpfully obfuscate your trades and their relationship to the hack.
- jkhdigital 6y agoExactly, anything with lots of FD volume from autists to provide cover
- ALittleLight 6y agoHow would it be harder to launder? You bet on a Tesla stock drop. That's perfectly legal. Musk tweets some bad news, and says he was hacked, but that doesn't mean you hacked him.
- imcoconut 6y agoAssuming the ultimate purpose for the hack is a crypto scam shows a complete lack of imagination.